KOF has its worst stock market crash ever
Coca-Cola FEMSA (KOF), Latin America's largest bottler of Coca-Cola products, posted its worst stock market performance in five months, ranking as one of the biggest losers in Tuesday's session on the Mexican Stock Exchange.
Stocks ticker 'KOFUBL' were at 175.12 pesos, their lowest level since June 25.
The 4.41% drop was the company's steepest since it fell 4.8% on February 6.
Despite the downward revision, the bottler's stock has accumulated a gain of nearly 8% so far this year, so the movement could be the result of profit-taking.
The most active brokerage firm in sales transactions was Morgan Stanley, with 34.7% of total transactions of this type, followed by Citi, Goldman Sachs, and GBM.
CBL Properties announced Tuesday the completion of a $78 million non-recourse loan secured by the Cross Creek Mall in Fayetteville, North Carolina.
The new five-year loan has a fixed interest rate of approximately 6.9%, the company said, adding that the funds were used to pay off an existing $81.9 million loan secured by the property, which had an interest rate of approximately 8.2% and was due in August.
Grupo Bachoco , one of Mexico's largest protein producers and the world's sixth-largest chicken producer, announced its first export of fresh pork to New Zealand, as part of its growth strategy in new markets.
Although the United States is its main export destination—17% of total sales, as of the end of 2024—it is now seeking to diversify its operations in Asia.
Just in February, Bachoco announced its entry into the South Korean market, also exporting pork. "This is a fundamental step in our international growth."
By the end of 2024, Bachoco had more than 1,000 farms, nine processing plants, nine packing plants, and more than 100 distribution centers in Mexico and the United States.
Intel, a U.S. company that manufactures computers and other electronic devices, plans to lay off approximately 529 employees in Oregon as part of a permanent workforce reduction, the company said in a document filed under the Worker Adjustment and Retraining Notification (WARN) Act.
The affected locations include plants in Aloha and Hillsboro, and layoffs are scheduled to begin July 15, according to notices the company reportedly issued to some employees.
Some of the jobs the company plans to cut are in its Intel Foundry unit, which would reduce approximately 15 to 20 percent of the technical, engineering, and research positions at its Oregon facility, according to media reports.
Eleconomista
